French Connection posts full-year loss as competition weighs

Clothing retailer French Connection reported a full-year loss on Tuesday, citing difficult trading conditions in the UK. The retailer, once known for its provocative FCUK brand of clothing and accessories, posted an underlying loss of 2.9 million pounds ($3.79 million) for the year ended Jan 31, compared with a profit of 0.8 million pounds a year earlier.

"The overall result for the financial year is disappointing," Chief Executive Officer Stephen Marks said in a statement. "Performance during the second half has been considerably worse than expected, particularly during the fourth quarter in the UK," he said, adding it was partly due to wholesale shipments being moved into the new year.